Acumen Research and Consulting recently published report titled “Femtech Market Size, Share, Analysis Report and Region Forecast, 2022 – 2030”
NEW YORK, June 21, 2022 (GLOBE NEWSWIRE) — According to Acumen Research & Consulting, the global femtech market size is estimated to grow a CAGR above 16% over the forecast timeframe and reach a market value of USD 97,317 million by 2030.
Femtech is a flourishing industry with innovative technologies targeting menstruation issues, fertility and birth control, pelvic health, chronic conditions, sexual wellness, as well as a number of general health conditions that affect women excessively or differently (such as cardiovascular disease or osteoporosis). There have been misconceptions and inequities in women’s health and wellness for many years. Many clinical trials were male dominated, resulting in a scarcity of data on women’s healthcare. As a result, Ida Tin, the founder of the Clue period tracking app, invented the name Femtech to promote awareness and encourage firms that are specifically for women.
However, because femtech is primarily focused on women, it addresses all of these challenges, from menstruation through menopause and pregnancy, through education and personalized services/products. It is critical to address the gender gap in the healthcare industry in terms of education and the products available. While it is still early in the game, statistics show that the processes underlying femtech are accelerating public awareness, firm formation, and funding are all on the rise.
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|Market Size 2021||USD 25,291 Mn|
|Market Forecast 2030||USD 97,317 Mn|
|CAGR||Around 16% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Type, By End-Use, By Application, By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Athena Feminine Technologies, Elvie, HeraMED, iSona Health, Totohealth, Minvera, Nuvo, Prelude, Sera Prognostics, Sustain Natural, and Univfy|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Femtech Market Growth Aspects
The increasing awareness regarding women’s health and wellness primarily drives the growth of the global femtech industry. In addition, the surge in digital technology to manage women’s health is also pushing the market forward in the coming years. The growing number of infectious diseases and chronic disorders among women is a strong contributing factor to the femtech apps industry.
However, the increasing number of start-ups all around the world creates stiff competition among players. According to the latest statistics, even with the rise of femtech startups, a very little amount of total HealthTech funding went to femtech startups in 2020. In addition, the lack of awareness of femtech products & services in emerging economies is also expected to limit the market growth. Persistent concerns such as rural/urban differences, education and decision-making, and gender equality all play a significant role in impeding the expansion of femtech. And, from a commercial standpoint, there is a potential that investors may refer to this industry as a “niche” where scaling will be an issue.
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Global Femtech Market Segmentation
The global femtech market has been segmented based on type, application, and end-use. Based on the type, the market is divided into products, software, and services. Among them, the product segment held a significant market share while the software segment is likely to attain a substantial growth rate in the coming years. The industry’s growth is fueled by the high frequency of chronic and infectious diseases among women, which need precise diagnoses and treatment.
Based on the process, the market is split into pelvic & uterine healthcare, pregnancy & nursing care, reproductive health, general healthcare & wellness, and others. Out of these, the reproductive health segment is anticipated to grow at the fastest rate all through the forecast period 2022 – 2030.
Furthermore, by end-use, the market is categorized into surgical centers, fertility clinics, direct-to-consumer, hospitals, diagnostic centers, and others. The significant growth in fertility clinics and the rising birth control issues among women are expected to create a buzz for this segment in the coming years.
Femtech Market Regional Analysis
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional classification of the global Femtech market. Based on the regional classification, the North America region dominated the principal amount of share in 2021. Some of the contributing factors are the growth in a number of women-related diseases, the presence of a large number of fertility clinics, growing technological innovation in the US femtech industry, and a surging number of government initiatives in the region. On the other hand, the Asia-Pacific femtech market is projected to grow at the fastest rate during the forecast period 2022 – 2030. This is attributed to the rising number of chronic and infectious diseases among women in Asia-Pacific. The growing number of start-ups in the region is creating awareness among women who are technologically backward and stay in remote areas where emergency health support is not available. China and India are the biggest markets in the region with the presence of the most number of women and a surging number of femtech startups. Some of the Indian Femtech start-ups include Carmesi, CareMother, Elda Health, Niramai, PregBuddy, SHEROES, and Zealthy among others.
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Key players covered globally in the femtech industry are Athena Feminine Technologies, Elvie, HeraMED, iSona Health, Totohealth, Minvera, Nuvo, Prelude, Sera Prognostics, Sustain Natural, and Univfy.
HeraMED announced a collaboration with eCare21, a premier virtual care platform, in September 2020 to combine its heartCARE and heartBEAT solutions with the eCare21 platform.
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About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting
E-mail: [email protected]
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